Synopsis:
BLS International Services slumped 18 percent after the MEA barred it from participating in future Indian Mission tenders for two years. Existing contracts remain unaffected, and the company aims for a resolution.
A technology-enabled government services stock, opened sharply lower following a directive from the Ministry of External Affairs (MEA) barring it from participating in future Indian Mission tenders for two years.
BLS International Services Ltd. has a market capitalization of Rs. 12,140.18 crore. The stock opened at Rs. 277.05 against a previous close of Rs. 337.20 and touched an intraday low of Rs. 277, reflecting an approximate decline of 17.84 percent from the previous close.
What’s the News?
The Ministry of External Affairs (MEA), Government of India, issued an order on October 09, 2025, debarring BLS International Services from participating in future tenders of Indian Missions abroad for a period of two years.
The debarment will not impact existing contracts, which continue as per their original terms. The directive follows allegations including court cases and complaints of applicants. BLS International Services stated that this development does not affect the company’s ongoing operations or financial outlook.
In Q1FY26, Indian Missions contributed approximately 12 percent of consolidated revenue and 8 percent of EBITDA. The company is actively working to resolve the matter and views it as a procedural development within the visa outsourcing industry.
Over recent years, the company has diversified its portfolio by securing contracts across the United States, United Arab Emirates, Spain, Slovakia, Hungary, Poland, Portugal, and through the UIDAI project in India. Strategic acquisitions of iDATA and Citizenship Invest in the last financial year have strengthened its revenue mix and resilience against regional developments.
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Financial Snapshot
Quarter-on-Quarter (QoQ), BLS International Services reported sales of Rs. 711 crore, up from Rs. 693 crore, reflecting growth of 2.60 percent. Operating profit rose to Rs. 204 crore from Rs. 174 crore, a jump of 17.24 percent, while PBT increased to Rs. 200 crore from Rs. 167 crore, up 19.76 percent. Net profit grew to Rs. 181 crore from Rs. 145 crore, marking a rise of 24.83 percent.
Year-on-Year (YoY), sales expanded to Rs. 711 crore from Rs. 493 crore, an increase of 44.22 percent. Operating profit surged to Rs. 204 crore from Rs. 133 crore, a gain of 53.38 percent, while PBT rose to Rs. 200 crore from Rs. 135 crore, up 48.15 percent. Net profit grew to Rs. 181 crore from Rs. 121 crore, an increase of 49.59 percent.
About the Company
BLS International Services Ltd. is a trusted global tech-enabled services partner for governments and citizens, delivering visa, passport, consular, citizen, e-governance, attestation, biometric, e-visa, and retail services since 2005. The company is known for its strong operational capabilities and a robust global presence.
Written By Manan Gangwar
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